Question

Consider the following statements regarding territorial jurisdiction and applicability of Competition Act: Statement 1: Competition Act applies only to conducts affecting Indian markets. Statement 2: Foreign entities conducting anticompetitive conduct affecting India are subject to the Act. Statement 3: Mergers involving foreign entities with operations in India require CCI approval. Statement 4: Competition Act has extraterritorial application to the extent conduct affects Indian commerce. Which statements are correct?

A Statements 1, 2, and 3 only
B Statements 2, 3, and 4 only
C Statements 1 and 3 only
D Statements 1, 2, and 4 only
E All statements are correct
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